ID :
53213
Tue, 03/31/2009 - 22:59
Auther :
Shortlink :
https://www.oananews.org//node/53213
The shortlink copeid
PM leaves for London to attend G-20; to meet Obama
New Delhi, Mar 31 (PTI) Prime Minister Manmohan Singh
Tuesday embarked on a visit to London where he will discuss
with US President Barack Obama, during their first meeting,
the problem of terror emanating from Pakistan and ways to deal
with it.
On his first visit abroad after undergoing heart bypass
surgery two months back, Singh will attend the G-20 Summit
where he will press the developed world to desist from
protectionist policies and ensure adequate flow of funds to
developing nations to reverse the effect of financial crisis.
In a pre-departure statement here, he underlined that the
Summit should come out with "purposeful actions" and "credible
decisions which will help to halt and reverse the current
slowdown and to instill a sense of confidence in the global
economy."
Singh's first meeting with Obama will be a major
highlight of the Prime Minister's four-day visit to London as
the two leaders are expected to outline the roadmap for future
ties of the two countries.
The bilateral ties have witnessed significant growth
under the previous George W Bush administration and India is
confident that the Obama government will push that process.
A key issue on the agenda of the meeting between Singh
and Obama would be the problem of terrorism emanating from
Pakistan and Afghanistan.
Obama, while unveiling the new strategy to deal with the
problem, has talked about involving India in the efforts to
deal with it.
Singh is expected to impress upon Obama the need for
wiping out terror sanctuaries from Pakistan as a key step to
end the threat to the world.
India believes that the problems of Afghanistan can be
addressed only when its source, which is in Pakistan, is
eliminated.
Before leaving for London, Singh said he looked forward
to his meeting with Obama as it will be an "opportunity for us
to review our bilateral relations as well as hold discussions
on important regional and global issues such as terrorism, the
situation in Afghanistan, energy security and climate change."
At the Summit of 20 developed and major developing
nations on Thursday, the Prime Minister will press the
industrialised world to desist from protectionism in trade and
free investment flows.
Spelling out India's objectives, Singh said there was a
need to ensure adequate flows of finances and resources to
developing countries to offset effects of the global slowdown.
"It is important and necessary for the Summit to take
credible decisions which will help to halt and reverse the
current slowdown and instill a sense of confidence in the
global economy," he said.
"The G-20 has an important role to play in addressing the
global economic and financial slowdown by taking coordinated
and purposeful action," Singh said ahead of the second Summit
of the influential nations since the meltdown began in the
middle of last year.
Pointing out that developing countries are facing the
"worst consequences" of the financial crisis, he underlined
the need for avoiding "protectionism in the trade of both
goods and services, facilitation of trade finance, and reform
and restructuring of international financial institutions."
In the context of protectionism, India is particularly
disturbed by the US efforts to curb outsourcing which will hit
its IT sector badly. New Delhi underlines that protectionism
is not the answer to global meltdown.
Obama, had in an interview to Financial Times yesterday,
said: "I have sent a very clear signal that now is not that
time to offer hints of protectionism and I will continue to
discourage efforts to close the US market."
Singh laid emphasis on ensuring adequate flows of
finances to developing countries to overcome the reversal of
international capital flows, and not retard progress towards
attainment of the Millennium Development Goals.
He also stressed the need for coordinated fiscal stimulus
by major economies to offset the decline in private demand,
agreement on a set of principles to plug loopholes and
weaknesses in the supervisory and regulatory arrangements for
the financial institutions. PTI AKK
BDS
NNNN
Tuesday embarked on a visit to London where he will discuss
with US President Barack Obama, during their first meeting,
the problem of terror emanating from Pakistan and ways to deal
with it.
On his first visit abroad after undergoing heart bypass
surgery two months back, Singh will attend the G-20 Summit
where he will press the developed world to desist from
protectionist policies and ensure adequate flow of funds to
developing nations to reverse the effect of financial crisis.
In a pre-departure statement here, he underlined that the
Summit should come out with "purposeful actions" and "credible
decisions which will help to halt and reverse the current
slowdown and to instill a sense of confidence in the global
economy."
Singh's first meeting with Obama will be a major
highlight of the Prime Minister's four-day visit to London as
the two leaders are expected to outline the roadmap for future
ties of the two countries.
The bilateral ties have witnessed significant growth
under the previous George W Bush administration and India is
confident that the Obama government will push that process.
A key issue on the agenda of the meeting between Singh
and Obama would be the problem of terrorism emanating from
Pakistan and Afghanistan.
Obama, while unveiling the new strategy to deal with the
problem, has talked about involving India in the efforts to
deal with it.
Singh is expected to impress upon Obama the need for
wiping out terror sanctuaries from Pakistan as a key step to
end the threat to the world.
India believes that the problems of Afghanistan can be
addressed only when its source, which is in Pakistan, is
eliminated.
Before leaving for London, Singh said he looked forward
to his meeting with Obama as it will be an "opportunity for us
to review our bilateral relations as well as hold discussions
on important regional and global issues such as terrorism, the
situation in Afghanistan, energy security and climate change."
At the Summit of 20 developed and major developing
nations on Thursday, the Prime Minister will press the
industrialised world to desist from protectionism in trade and
free investment flows.
Spelling out India's objectives, Singh said there was a
need to ensure adequate flows of finances and resources to
developing countries to offset effects of the global slowdown.
"It is important and necessary for the Summit to take
credible decisions which will help to halt and reverse the
current slowdown and instill a sense of confidence in the
global economy," he said.
"The G-20 has an important role to play in addressing the
global economic and financial slowdown by taking coordinated
and purposeful action," Singh said ahead of the second Summit
of the influential nations since the meltdown began in the
middle of last year.
Pointing out that developing countries are facing the
"worst consequences" of the financial crisis, he underlined
the need for avoiding "protectionism in the trade of both
goods and services, facilitation of trade finance, and reform
and restructuring of international financial institutions."
In the context of protectionism, India is particularly
disturbed by the US efforts to curb outsourcing which will hit
its IT sector badly. New Delhi underlines that protectionism
is not the answer to global meltdown.
Obama, had in an interview to Financial Times yesterday,
said: "I have sent a very clear signal that now is not that
time to offer hints of protectionism and I will continue to
discourage efforts to close the US market."
Singh laid emphasis on ensuring adequate flows of
finances to developing countries to overcome the reversal of
international capital flows, and not retard progress towards
attainment of the Millennium Development Goals.
He also stressed the need for coordinated fiscal stimulus
by major economies to offset the decline in private demand,
agreement on a set of principles to plug loopholes and
weaknesses in the supervisory and regulatory arrangements for
the financial institutions. PTI AKK
BDS
NNNN
